Woori Bank, postal service to join NongHyup in offering virtual account payment option
The Korea Customs Service is expanding the number of financial institutions offering virtual account tariff payment services to make it easier for taxpayers to settle customs duties.
The agency announced Monday that it will add Woori Bank to the service in June, broadening a system previously centered on NongHyup Bank, with the postal financial service operator set to join in the second half of the year.
The virtual account service assigns each taxpayer a one-time deposit account, enabling real-time tariff payments around the clock, 365 days a year, through internet banking, phone banking and other channels.
The expansion is expected to improve convenience and accessibility for taxpayers. The per-transaction fee borne by the government will also fall from 80 won to 45 won, delivering budget savings alongside the broader service improvements.
"We plan to continue improving payment services so that we can simultaneously enhance convenience for taxpayers and achieve budget savings," said Oh Hyun-jin, head of the Korea Customs Service's tax base review division.
kwonhl@heraldcorp.com
